SINO should bid Atlas Iron, page-5

The thought of Sinosteel doing something did cross my mind also...

They're already involved with Atlas in a lithium deal.

But I also have some doubts...

Sinosteel may still be gun-shy after the great Mid West Corporation debacle of about 10 years ago. They paid about $1B for a crap company, and at the time it was the biggest dollar value takeover by a foreign company.

They paid about $6.30 per share for Mid West Corp, which ended up being a grand disaster as they stopped mining IO soon after the acquisition.

I wonder how many heads rolled at Sinosteel after that?...